Deputy Finance Minister Thomas Ampem Nyarko has confirmed that the removal of the controversial Electronic Levy (E-Levy) will take effect by the end of March 2025, pending the approval of the 2025 budget and appropriation.
Speaking on the OXFAM Tax Dialogue on Channel One TV on Tuesday, March 18, Nyarko explained that once Parliament finalizes the budget process, the E-Levy removal will be implemented.
“It will take effect the moment the budget and the appropriation is approved, and that will be by the 31st of this month.
“So all things being equal, from April you will see that all things will be done,” he stated.
Beyond tax reforms, Nyarko also underscored the need for a comprehensive review of Ghana’s investment climate. While acknowledging the country’s strong democratic reputation as a key attraction for foreign investors, he noted that other critical factors are discouraging investment inflows.
“We as a country have not fully leveraged on good democratic credentials. A lot of foreign investors prefer Ghana because of our stable political environment but someway somehow other factors are driving investors away,” Nyarko stated.
He called for deeper analysis and stakeholder engagement to identify and resolve these investment barriers, urging discussions on what Ghana “might not be doing right.”
Credit: CNR